Summary

The recent RiskMinds International 2024 conference in London featured industry leaders sharing insights on risk management, and we were pleased to participate as a sponsor.

Over four days, the key topics discussed spanned AI, geopolitical tensions and climate and cyber risks as attendees explored innovative AI-driven solutions for model validation, governance, and stress testing, as well as the growing emphasis on scenario design and model expansion to adapt to dynamic macroeconomic conditions. Discussions also centered around solutions that streamline risk and compliance reporting in a single platform, and the increasing importance of integrating ESG into strategic risk, regulatory requirements, and greenwashing mitigation.

CRISIL’s global head of Credit & Lending solutions, Amit Vora, moderated a CRO panel discussion on "Navigating emerging risks" with senior executives from Standard Chartered Bank, Groupe BPCE, BNP Paribas, SEB, and Waterfall Asset Management. 

Key themes emerged from the sessions and discussions, included:

• The anticipation of battling geopolitical, climate, and emerging technological risks in 2025.
• Prioritization of stress management and scenario expansions to adapt to the continuously evolving economic landscape.
• Global divergences in capital regulations due to varying stages of Basel implementation, which call for harmonization and a level playing field across jurisdictions.
• ESG integration, encompassing strategic risk, capital requirements, and provisioning. 
  

Looking Ahead

Though an industry, we are well capitalized and poised for the future, RiskMinds 2024 underscored the importance of innovation and collaboration in risk management for smooth sailing amidst a dynamic economic environment. We look forward to continuing the conversation in 2025.